Cost Effectiveness Evaluation and Public Sector Treasury Single Account Policy Implementation in Nigeria

Abstract

Government policies and projects in Nigeria have most times been implemented at a very high cost. Sometimes the policy or project is still below average performance or at the preliminary stage, yet the total budgeted cost has been expended.  In this way most projects and policies are abandoned half way or variations of about half the initial contract sum is applied for to complete the project or give effective implementation to the policy.  Though, the enormous benefits of TSA policy as it is being expected in Nigeria, there is need to evaluate the cost effectiveness of its implementation.  The paper thus examined, cost effectiveness evaluation and  Treasury Single Account Policy implementation in Nigeria.  It x-rayed the meaning of TSA, the need for cost effectiveness evaluation of TSA policy, steps in cost effectiveness evaluation, TSA policy and the cost of implementation in Nigeria.  The paper concludes that applying cost effectiveness evaluation in TSA policy implementation enhances the net financial position of government and also it enhances the monitoring of the funding system of TSA policy as well as the performance level of its implementation.  We therefore recommend that cost effectiveness evaluation should be regularly carried on the TSA policy implementation and other government policies/projects and ensure actions are taken based on recommendations as this will boost public confidence on government, also government should ensure that cost effectiveness evaluation is carried out at the various stages of the TSA implementation as this will enhance the net financial position of government and finally, government should utilize cost effectiveness evaluation to monitor the funding of TSA policy implementation and assess its performance level at all times.

Key Words: TSA, Cost Effectiveness Evaluation, Policy Implementation and MDAs